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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Jane4IceCream who wrote (51897)10/20/2005 9:12:39 PM
From: chowder  Read Replies (1) of 206254
 
CHK is being sold off by the institutions. I posted this back on 10/9:
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Now let me show you something from an intermediate term chart. The weekly chart is supposed to provide a longer term view of what's going on.

I have an indicator called Balance Of Power, BOP for short.

BOP tells you whether the "UNDERLYING" action in the trading stock is "characterized" by systematic buying (accumulation) or systematic selling (distribution).

Only 3 colors show up on a BOP chart. Green, yellow and red. If green shows up you have systematic buying, the institutions are accumulating. Yellow is neutral and red represents systematic selling.

Here's the rest of the explanation of BOP.

Message 20785345

The week before last, institutions were selling CHK as it was setting recent highs. It was followed up by more systematic selling this past week. The middle window shows a zero line and below the zero line is bearish. Note how far below the zero line the weekly BOP readings are. A clear sign of distribution.

Also note the bottom window where money stream (MS) has fallen below the 15 week moving average and is now at the bottom of the chart.

CHK:

ttrader.com
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That systematic selling of CHK by the institutions continues.

Again, this chart can only show 3 colors. Green for accumulation, yellow for neutral and red for distribution.

CHK is clearly showing systematic selling by institutions. The balance of power indicator is merely showing who is running price. When institutions are selling, buying the dips are known as catching falling knives.

ttrader.com

Dips should be bought in uptrends, avoided in downtrends, especially when you are fighting the institutions and all of their money.

I might add, one should note the money stream indicator in the lower window. It doesn't take a technical analysis expert to know that money stream at the bottom of the chart is bearish.

dabum
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